Mobileye Global Inc. (NASDAQ:MBLY) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. cut its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 18.2% in the third quarter, HoldingsChannel.com reports. The fund owned 7,640 shares of the company’s stock after selling 1,700 shares during the period. Pinnacle Associates Ltd.’s holdings in Mobileye Global were worth $105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC acquired a new position in shares of Mobileye Global during the 2nd quarter worth about $84,000. Natixis Investment Managers International acquired a new position in shares of Mobileye Global during the first quarter valued at approximately $99,000. EverSource Wealth Advisors LLC raised its holdings in shares of Mobileye Global by 1,019.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after acquiring an additional 3,478 shares during the last quarter. Lipe & Dalton boosted its stake in shares of Mobileye Global by 53.6% in the first quarter. Lipe & Dalton now owns 4,300 shares of the company’s stock worth $138,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Mobileye Global during the second quarter worth approximately $147,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MBLY. Mizuho lowered Mobileye Global from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $30.00 to $13.00 in a report on Friday, October 11th. Royal Bank of Canada cut shares of Mobileye Global from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $24.00 to $11.00 in a research note on Tuesday, October 15th. Hsbc Global Res raised shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Daiwa Capital Markets lowered Mobileye Global from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Finally, HSBC initiated coverage on Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 price target for the company. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.20.

Mobileye Global Stock Down 6.4 %

NASDAQ:MBLY opened at $14.57 on Tuesday. Mobileye Global Inc. has a 52 week low of $10.48 and a 52 week high of $44.48. The stock’s fifty day moving average is $12.77 and its two-hundred day moving average is $20.69. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of -3.99 and a beta of 0.07.

Mobileye Global Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.